Manhattan Townhouse Market Logs a Strong Week

Manhattan’s luxury home market came back down to earth last week, according to Monday’s weekly report from Olshan Realty. 

During the week ending Sunday, 25 contracts were signed on homes asking $4 million or more in the New York City borough. That’s 15 fewer than the prior seven-day stretch that saw a whopping 40 high-end homes find buyers. 

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“That’s a decline of 37.5%, which begs the question: Was the previous week’s 40 contracts an anomaly, a one-week wonder?” wrote Donna Olshan, president of Olshan Realty and author of the report. “Only time will tell.”

Those 25 luxury property deals inked last week were collectively worth almost $207 million, and comprised 14 condos, four co-ops and seven townhouses—the largest number of high-end townhomes sold in any given week since June.

A townhouse was also the priciest home to enter into contract last week. The 25-foot-wide, four-story house on Waverly Place in Greenwich Village was last asking $19.95 million. Across its 8,300 square feet, the home has seven bedrooms, an elevator, a garden, and a basement with a pool, gym, sauna and wine cellar. 

The second-priciest home sold last week was a penthouse at Jardim, a development on West 27th Street in Chelsea. Last asking $17.995 million, the duplex condo spans 4,552 square feet and has four bedrooms and a giant 4,593-square-foot terrace with an outdoor kitchen and a pool.

Amenities in the building include doormen, on-site parking, a fitness center, a yoga studio, a skylit pool and a children’s playroom.